McCormick & Company, Incorporated (NYSE:MKC – Get Free Report) announced its quarterly earnings data on Tuesday. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.15, Briefing.com reports. The firm had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.67 billion. McCormick & Company, Incorporated had a return on equity of 14.63% and a net margin of 11.07%. The company’s quarterly revenue was down .3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.65 EPS. McCormick & Company, Incorporated updated its FY 2024 guidance to 2.850-2.900 EPS and its FY24 guidance to $2.85-2.90 EPS.
McCormick & Company, Incorporated Trading Down 1.4 %
MKC stock traded down $1.15 during mid-day trading on Thursday, reaching $80.89. 2,230,133 shares of the stock traded hands, compared to its average volume of 1,954,515. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.31 and a current ratio of 0.69. McCormick & Company, Incorporated has a one year low of $59.13 and a one year high of $85.49. The stock has a market capitalization of $21.73 billion, a PE ratio of 29.42, a PEG ratio of 4.24 and a beta of 0.76. The business has a 50-day moving average price of $80.21 and a two-hundred day moving average price of $75.20.
McCormick & Company, Incorporated Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 21st. Investors of record on Monday, October 7th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.08%. The ex-dividend date of this dividend is Monday, October 7th. McCormick & Company, Incorporated’s dividend payout ratio is presently 61.31%.
Analysts Set New Price Targets
Insider Activity
In other news, Director Lawrence Erik Kurzius sold 25,000 shares of the business’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the completion of the sale, the director now directly owns 199,258 shares of the company’s stock, valued at $14,944,350. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 22.90% of the company’s stock.
About McCormick & Company, Incorporated
McCormick & Company, Incorporated manufactures, markets, and distributes spices, seasoning mixes, condiments, and other flavorful products to the food industry. It operates in two segments, Consumer and Flavor Solutions. The Consumer segment offers spices, herbs, and seasonings, as well as condiments and sauces, and desserts.
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